BOF Capital Unveils Groundbreaking Investment Funds to Empower Black Entrepreneurs and Homeowners
TORONTO, May 28, 2025 /CNW/ - Black Opportunity Fund ("BOF") is proud to announce the launch of BOF Capital Inc. ("BOF Capital"), a game-changing, first-of-its-kind initiative dedicated to tackling systemic economic barriers and building generational wealth for Black communities. Its' initial two privately sponsored funds represent a groundbreaking shift— investment funds designed by and for the Black diaspora across North America.
BOF Capital is launching two groundbreaking investment funds aimed at fostering economic inclusion:
BOF Capital Growth Fund: An impact focused fund investing in Black-led businesses, providing financial backing, mentorship, and market access to help entrepreneurs scale and succeed. The Fund will target initial capital commitments of $100 million.
Ourboro BOF Capital Opportunity Fund: In partnership with Ourboro Inc., a housing investment fund, designed to increase Black homeownership through an innovative shared equity model, ensuring more Black Canadians can build wealth through home ownership. The Fund will target initial capital commitments of $50 million.
BOF Capital is pleased to announce the appointment of Gajan Kulasingam as its Managing Partner. Mr. Kulasingam, a seasoned finance executive with extensive experience in impact investing and economic development, will lead BOF Capital's strategic direction, ensuring its funds create meaningful, long-term impact for Black entrepreneurs and homeowners.
"I am honoured to have the privilege to lead BOF Capital. We know that access to funding has long been a barrier for Black entrepreneurs, limiting opportunities for growth and success," said Gajan Kulasingam. "We also understand the importance of homeownership for wealth generation and socio-economic mobility for Black Canadians. BOF Capital is tackling these inequities head-on—providing the financial backing and strategic support needed to help Black businesses thrive while ensuring more Black families can achieve homeownership and build generational wealth."
At its core, BOF Capital is about community-driven economic empowerment. By addressing systemic barriers to funding, BOF Capital is creating an ecosystem of support where Black-owned businesses can grow and scale, families can secure housing and build equity, and generational wealth can ultimately be catalyzed within Black communities.
Said Craig Wellington, CEO of BOF: "We are creating innovative and sustainable pathways to economic empowerment by directly addressing the funding and opportunity gaps that have historically limited Black Canadians and those across the diaspora, from building generational wealth."
For BOF Capital, the numbers tell a clear story: systemic barriers continue to hinder wealth creation for Black entrepreneurs and aspiring homeowners. Most recent data reveal that Black-owned businesses receive less than 1% of total growth capital, limiting their potential for growth and success.
At the same time, homeownership remains one of the most powerful drivers of generational wealth, yet only 44% of Black Canadians own homes, compared to 72% for the general population. BOF Capital understands that closing the wealth gap starts with closing the homeownership gap, ensuring more Black families have access to the financial resources needed to build long-term stability and prosperity.
"We're very proud to partner with BOF Capital to unlock home ownership for Black Canadians," said Nicholas Pope, Co-Founder & Chief Investment Officer of Ourboro. He added, "As a social impact business, catalyzing generational wealth creation for a historically underrepresented community is core to our values as a business."
BOF Capital is pleased to announce the constitution of its Board, represented by Lori Hall-Kimm, Narinder Dhami, Kurankye Sekyi-Otu, Christine Williams, Noberta Faustin, Craig Wellington, Dennis Mitchell, Ray Williams and Colin Lynch. Each of these individuals brings invaluable knowledge and expertise to BOF Capital, and their work will directly contribute to the firm's commitment to bridging the investment gap for Black-led businesses and creating accessible pathways to homeownership for Black Canadians.
As the latest phase of the Black Opportunity Fund's transformative strategy to disrupt traditional models of philanthropy, BOF Capital is redefining traditional financing models that have historically underserved Black communities
To learn more about BOF Capital – please visit https://bofcapital.com
To learn more about Ourboro – please visit https://ourboro.com
About BOF Capital
BOF Capital is a sponsored entity of Black Opportunity Fund (BOF), dedicated to empowering Black entrepreneurs and families through strategic investments in business and homeownership. As a private funded, Black-led investment initiative, BOF Capital is setting a new precedent in impact-driven investing.
About Black Opportunity Fund
Black Opportunity Fund (BOF) is a community-led Canadian Charitable organization, that supports a prosperous, healthy and thriving Black Canada by challenging anti-Black racism in two ways. Firstly - responding to long standing underinvestment in Black communities, by delivering sustainable and needs-informed capital streams, managed by Black people for the benefit of Black communities. Secondly – working nationally to strengthen collective actions by Black organizations and leaders, helping them to create new and more impactful ways to support and advocate for our community.
BOF prioritizes initiatives around education and youth, health, women and gender, criminal justice, entrepreneurship, arts, culture and recreation, and food insecurity, that impact the quality of life in Black communities across Canada.
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